Markets

A crackdown on peer-to-peer lenders in China is sending some to the wall

There are reports some P2P lending platforms in China are running into financial trouble. China strengthened regulatory oversight over P2P lenders in June. P2P platforms match borrowers with investors online. There are reports that tens of Chinese peer-to-peer lenders (P2P) have defaulted on their repayments, coinciding with a renewed effort […]
A crackdown on peer-to-peer lenders in China is sending some to the wall
Markets

China is cracking down on peer-to-peer lending

China’s banking regulator, the CBRC, announced yesterday that they will place tougher restrictions on thousands of online peer-to-peer (P2P) lenders operating in the country, stating that firms will not be allowed to take deposits from the public, pool investors’ money or guarantee returns. According to a report from Bloomberg, citing […]
China is cracking down on peer-to-peer lending